Hendricks County Chapter 7 Bankruptcy Firm

Indiana Bankruptcy Attorneys Bring Over 60 Years of Experience to the Table

A liquidation bankruptcy, known as a Chapter 7, begins with a debtor filing a petition with the appropriate bankruptcy court. In Hendricks County, Indiana, that is the Southern District Bankruptcy Court located in Indianapolis, New Albany, Evansville, and Terre Haute. If you're in need of sound legal advice regarding chapter 7 bankruptcy in Indiana, contact the law firm of Saeed & Little LLP in Indianapolis.

The Bankruptcy Process

The Federal Rules of Bankruptcy Procedure and the local rules of each bankruptcy court govern the bankruptcy process. In order to qualify for chapter 7 bankruptcy in Indiana, the debtor must show that they have received credit counseling from an agency approved by the U.S. Trustee in Indiana within the six-month period prior to filing for chapter 7. A debtor education course is also required before an individual can receive a bankruptcy discharge. Although some states let debtors choose between the state exemption system and the federal one, Indiana does not – state residents are required to use the state exemptions.

Means Test

When you file for bankruptcy in Indiana, you are required to complete a number of forms, including a bankruptcy petition, several schedules containing detailed information about your finances, and a means test.

When completing the means test, you will be required to compare your income to the median income for a household of your size in Indiana. If your income is lower than the median, you will be eligible to file for chapter 7 bankruptcy in the state. If your income is above the median, you might still qualify for chapter 7, but you'll be required to provide detailed information about your expenses and payments on secured debts, after which a determination will be made regarding your eligibility.

If you're in need of advice regarding filing for chapter 7 bankruptcy in Hendricks County, Indiana, call Saeed & Little LLP at 317-685-2426 or contact us online to schedule your free telephone consultation with one of our lawyers. Our firm has over 60 years of combined experience with bankruptcy law in Indiana, and we'll be happy to assist you.